On April 29, 2021, Cullen/Frost Bankers (NYSE:CFR) announced shareholders can expect to receive a dividend payable on June 15, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Cullen/Frost Bankers, which has a current dividend per share of $0.72, has an ex-dividend date scheduled for May 27, 2021. That equates to a dividend yield of 2.44% at current price levels.

Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.

Over the past year, Cullen/Frost Bankers has seen its dividend payouts climb upward and its yields trend downward. Last year on May 28, 2020 the company's payout sat at $0.71, which has since increased by $0.01. Cullen/Frost Bankers's dividend yield last year was 3.85%, which has since decreased by 1.41%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.